1.1 A Brief History of YouTube
If you’re an Internet-savvy geek it may be difficult to remember a time when YouTube didn’t exist. Yet it wasn’t so long ago that the site was little more than an idea in the minds of its founders Steven Chen, Chad Hurley and Jawed Karim.
The site opened in 2005, and the first video was uploaded on April 23rd. Within a year, the site was receiving over 100 million page views per day. Even in the world of online business this kind of growth was astonishing. Easy online video sharing went from a dream to a basic reality of the Internet within months.
As a result the site garnered a lot of attention from other, larger companies. Chief among them was Google, which paid $1.65 million (in Google stock) for the company in November of 2006.
Today, YouTube receives over five billion page views daily. Video length restrictions were slowly raised and then lifted, the interface was redesigned several times, and rentals of theatrical releases were made available. (more…)